Which do you think is a more effective strategy in generating B2B leads—making a good name in the industry or making the best products and services?
While you might think that both are just as important for ensuring the radical growth of your revenues (and business as a whole), it is imperative to note that conflating these two in your priority list might not be a good idea.
Are you still having a hard time deciding which path to focus? Here are our arguments that will help you clear up your mind.
- The premise that promises. B2B marketers operate under the assumption that it is a squander to make your name sweet-smelling to attract more leads than you can handle when you can keep yourself busy with improving the quality of your products and/or services. You might as well be more interested in keeping your costumers satisfied than watch your time and money being frittered away by making your company known in the market. If branding or making a name is your primary focus, there are B2B marketing companies who can help with your lead generation campaigns and make sure that both aspects of your marketing efforts are well taken care of.
- Leave the rats to the cats. You make the cheese. And we’re the cats that hunt rats for your cheese. Get the picture? If you want more rats to come down and gobble on your cheese cakes, you might want to improve the quality of your cheese. You do that, and you will have no trouble making your name known in the rat community. Just make and keep your products and services in good quality while we take care of the lead generation aspect of your business.
Don’t get us wrong here. We’re not trying to make the sales for you. You’re good at that. In fact, you are the best at that. What we do is provide you with sales-ready leads—leads that fit your “ideal costumer” criteria.
- “What’s in a name? That which we call a rose, by any other name, would smell as sweet.” So goes Shakespeare’s famous line which teaches us the insignificance of a label in the eyes of a customer who doesn’t need it. Though it is true that in B2B marketing, an established name easily wins trust, it is, by far, the quality of products and services that sustains it.
A good name may help you attract costumers anywhere around the world, but it is bound to get tarnished when customers are not happy with the quality of service they are getting. Keep the quality of your services at par with the highest standards to keep your name untainted by complaints and negative publicity. They say bad publicity is still publicity. Though this may work for some businesses in the market, we know for a fact that a bad name really creates a bad image, and may in time prove to be a huge roadblock in your B2B lead generation efforts.
Should businesses choose between label and quality? The answer is no. Hire a marketing team to generate qualified leads and have your team focus on improving your products and services.
It should not come across as a surprise when a financial lead suddenly expressed disinterests. But commonplace as they are, rejections are a bane to productivity and profitability. In many cases, they happen because firms fail to realize a strong lead nurturing system.
Without using the proper techniques, it will be easier for a prospect to fully elude your grasp – otherwise, you can take these important steps that can also work for financial services providers, courtesy of CallProof CEO Robert Hartline:
Monitor Leads through LinkedIn
Many major deals happen when prospects change jobs. Be sure to connect with your prospect on LinkedIn after your first face-to-face meeting, phone call or email exchange. LinkedIn is an ideal way to monitor your prospect’s job changes and alert you to opportunities.
For example, you’re connected to Billy, your contact at XYZ Company, on LinkedIn. Billy didn’t buy from you, but you know that XYZ Company is a good prospect. You follow Billy on LinkedIn, and three months later, you notice that Billy has a new job at another company.
If Billy was a gatekeeper that kept you from selling to XYZ Company, you now have another opportunity to make a new contact at XYZ. If Billy was a friend, you can reconnect with him and see if he is able to make purchase decisions in his new position.
Know the Prospect’s Purchasing Window
The right time to nurture a lead depends on their buying timeframe. For example, if a lead is buying school supplies for a high school, you’ll need to know their window for budgeting and purchasing those supplies before the school year starts. This will help you to nurture them before they make a decision.
Track Your Seasonal Lead Volume
Every industry has times during the year when their products or services are hot. If you nurture your leads before these times, they will be more likely remember you when they are ready to buy.
A good rule of thumb is to look at your own company’s lead volume for cues. For CallProof, it’s at the beginning of the year, when companies are revamping their sales strategies. Or if I’m in the landscaping business, and my call volume is heavy in March and April, I know February is a good time for lead nurturing. Then I can use direct mail to contact my leads, or I can redirect their email addresses and phone numbers into a social media campaign on Facebook.
Timing is everything in B2B lead nurturing. As the saying goes, “It’s hard to sell someone dinner when they’re full.” Show your leads the steak when they’re hungry. No matter what business you’re in, timing is the key to nurturing leads and turning them into sales.
In every telesales campaign in Australia, there is always the part where you have to negotiate with business prospects. If effectively carried out, you can actually use it to get into more agreeable terms. But that is if you effectively carry it out. Sometimes, your actions in the meeting can negatively affect your firm’s relationship with potential sales leads. What should you be doing so as not to lose your sales? Here is how you do it:
- Take control – when going in a meeting (like the ones set up by your appointment setting team), you need to take the initiative and start meeting. If you let the other side start it, you will notice that you lose control over the direction of the meeting. This is very important, since pricing and terms of agreements are sure to be involved.
- Always put things in writing – there are formal agreements and there are written agreements. As much as possible, stick to the latter type. Yes, you can discuss terms verbally during the meeting, but it helps if you have written everything down immediately. Besides, once you have the agreement written down, you are actually encouraging the prospects to sign up with you.
- Be cool – no matter what the situation, you should always maintain a cool demeanor in your meetings. This is the secret of successful conversion of B2B leads to an actual business deal. Even if the other side is in a heightened mood, you should not be carried away by it.
Only then will be able to successfully handle your lead generation campaign in Australia.
Australian businesses will find it to their advantage to heed this advice: invest more in the Asian market. While it may be true that businesses in Australia are enjoying profitable growth over the years, the fact remains that this will not remain stable. Like in the mining sector, exports can go down in the future. Companies need to expand their trade portfolio, put more effort in their lead generation and appointment setting campaigns, to find more markets to generate B2B leads from. There are a lot of markets receptive to the various industries that Australia has. The key here is in choosing the right ones.
The number of industries in Australia that can try their hand in the Asian market is numerous. There are those in the agriculture sector, tourism, education, manufacturing, construction, etc. How an Australian firm succeeds in this depends on how good their marketing team is, whether they have people skilled in communication, like in social media and telemarketing, which can promote their company. If they do not have an in house one, or they cannot afford one, then they can easily have it outsourced to those who do. There are plenty of professional lead generation and appointment setting agencies that can provide such services.
As an engine of growth, the Asian economy is one that Australian businesses should grasp. There are a lot of opportunities to be found there, with the rewards for the intrepid ones substantial. The sales leads to be obtained there will certainly be of value.
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